BUZZ-Camping World skids on $300 million equity raise

Reuters
2024-10-31

** Camping World's shares down 8.8% at $20.74 before the bell after RV (recreational vehicle) retailer raises equity ** Good Sam brand owner late Weds announced pricing ~14.6 mln shares at $20.50 for gross raise of $300 mln

** Offering price represents 9.8% discount to last sale

** CWH to use net proceeds to purchase common units from CWGS Enterprises

** In turn, CWGS to use proceeds for strengthening balance sheet, working capital for growth and debt pay down

** CWH has ~85 mln shares outstanding for ~$1.9 bln market cap, per LSEG

** Goldman Sachs and JP Morgan leading stock offering ** CWH late Mon reported Q3 rev of $1.72 bln, topping LSEG estimate of $1.64 bln

** Through Weds close, shares down 13% YTD. They closed at $16.75 a yr ago

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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